First United Bank & Trust increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,555 shares of the retailer’s stock after purchasing an additional 24 shares during the quarter. First United Bank & Trust’s holdings in Costco Wholesale were worth $1,148,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of COST. Ironwood Wealth Management LLC. increased its position in shares of Costco Wholesale by 18.2% during the first quarter. Ironwood Wealth Management LLC. now owns 3,283 shares of the retailer’s stock worth $1,157,000 after purchasing an additional 506 shares in the last quarter. Baker Tilly Wealth Management LLC grew its holdings in Costco Wholesale by 15.6% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 919 shares of the retailer’s stock valued at $324,000 after buying an additional 124 shares in the last quarter. Gladstone Institutional Advisory LLC purchased a new stake in Costco Wholesale in the 1st quarter valued at $588,000. Childress Capital Advisors LLC grew its holdings in Costco Wholesale by 39.0% in the 1st quarter. Childress Capital Advisors LLC now owns 977 shares of the retailer’s stock valued at $344,000 after buying an additional 274 shares in the last quarter. Finally, Pendal Group Limited grew its holdings in Costco Wholesale by 230.8% in the 1st quarter. Pendal Group Limited now owns 3,645 shares of the retailer’s stock valued at $1,284,000 after buying an additional 2,543 shares in the last quarter. Hedge funds and other institutional investors own 66.87% of the company’s stock.
Several analysts have issued reports on COST shares. Evercore ISI upped their target price on Costco Wholesale from $480.00 to $525.00 and gave the company an “outperform” rating in a report on Thursday, November 4th. Cowen upped their target price on Costco Wholesale from $440.00 to $520.00 and gave the company an “outperform” rating in a report on Thursday, October 7th. Credit Suisse Group upped their target price on Costco Wholesale from $400.00 to $490.00 and gave the company a “neutral” rating in a report on Monday, September 27th. Robert W. Baird upped their price target on Costco Wholesale from $520.00 to $550.00 and gave the company an “outperform” rating in a research note on Wednesday, November 3rd. Finally, Oppenheimer upped their price target on Costco Wholesale from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Thursday, November 4th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $496.23.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Wednesday, September 22nd. The retailer reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.33. Costco Wholesale had a return on equity of 29.62% and a net margin of 2.56%. The business had revenue of $61.44 billion for the quarter, compared to the consensus estimate of $61.45 billion. During the same quarter in the prior year, the business posted $3.13 EPS. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, analysts expect that Costco Wholesale Co. will post 12.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Stockholders of record on Friday, October 29th were issued a $0.79 dividend. The ex-dividend date was Thursday, October 28th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.57%. Costco Wholesale’s payout ratio is currently 28.04%.
About Costco Wholesale
Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations.
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